GST ERP Software For Small and Medium-sized Business

GST compliant ERP solution


GST erp software

The long awaited and much talked about Goods & Service Tax has finally been implemented; this will consolidate the various indirect taxes into a single tax regime for the entire nation, famously known as One Nation One Tax. Thanks to the visionary and able leadership of our Prime Minister Shri Narendra Modi that we finally have a single tax for the entire country. This new single taxation system will pave the way for a transparent and corruption free administration. It will reduce the cost of goods and services and boost the economy by making the products and services globally competitive.

GST Ready ERP Software

GST has brought about a paradigm shift in more than 140 countries with France being the first country to implement it in order to reduce tax evasion. With every new progressive step comes new challenges and therefore organisations must be ready to address them. Here are a few of them:

Features of GST Ready ERP Software

  • Analysis & Reporting – Detailed analysis & reporting of sales and purchase transactions has to be done.
  • Up to date Information - GST mandates organisations to keep up to date information. This requires effective drill down features along with a complete tracking facility.
  • Inventory Management – One of the major challenges is inventory management in a systematic way based on the HSN code.
  • Real time information – An organisation needs real time quick and accurate information in order to meet the deadlines for filing returns.
Increase Absolute financial control at manageable costs and helps in gaining Revenue. Our Financial Management Suite is the most extensive and independent money related administration framework that can change your heretofore authoritative, budgetary and administrative financial tasks into all round synchronized, mechanized procedures. Whether you work as a solitary organization or are a piece of a multi-national combination, the application empowers you to screen your primary concern and streamline your money related operations over the venture. Our Financial Management Suite underpins exchanges to be completed in multiple currencies for multi-national and multi-statutory situations.

From procurement to warehouse management, and inventory to sales and shipping. Our SCM comprised of Purchasing and Subcontracting, Inventory, Sales and Shipping engages you to achieve overall business visibility, oversee and streamline inventories and synchronize supply administration with the client request screen and deal with your inventory network more productively, at a lesser cost. Your clients and suppliers gain continuous access to essential and precise data in order to improve your primary concern.

SCM Modules
  • Inventory
  • Bill of Materials/Kitting
  • Purchase Order
  • Sales Order
  • Warehouse Management
  • Distribution Requirements Planning (DRP)
IDBS's HRMS solutions offers you a best and superlative Human Capital Management System with latest technology and best practices that addresses your HR and Payroll needs from hire to retire. Our HCM is designed for modular deployment via Saas, hosted, or on premise which empowers the individual by leveraging easy to use tools that are personalized and best with its functionality and usability as well.
Customer Relationship Management (CRM) is an approach to manage a company's interaction with present and future clients. It regularly includes utilizing innovation to sort out, automate, and synchronize sales, marketing, client administration, and technical support.
IDBS's HRMS solutions offers you a best and superlative Human Capital Management System with latest technology and best practices that addresses your HR and Payroll needs from hire to retire. Our HCM is designed for modular deployment via Saas, hosted, or on premise which empowers the individual by leveraging easy to use tools that are personalized and best with its functionality and usability as well.

Project and Job Costing makes it easy to estimate projects, enter and report costs, and track billings, payments, and profits. With categories that are easily customized to meet virtually any specification needed, it is flexible enough to manage large or small projects for any business environment.

With Project and Job Costing, you get efficient and effective results without breaking your budget, straining your internal resources, or compromising on functionality. With the automated tracking, estimating, billing, and reporting the cost benefits of dramatically streamlined processes you get the insight you need to control costs and boost profits.

Features

Automated Project and Job Costing

IDBS ERP provides a detailed project data that can be customized easily pursuant to your business needs wherein the hierarchy of project levels and transaction types is defined quickly in order to track and report costs and profits irrespective of the size of the project. It helps to manage the contracts or jobs efficiently by dividing it into three different levels such as contract (job), project (phase) and category. With this you can specifically use cost account in cost transactions for each category and use as many as segments to represent the type of contracts and divisions in your contract numbers.

Flexible Estimates, Billing, and Profit Recognition

With IDBS ERP X3 you can have a better control over your project cycle from ascertaining the exact bid to delivering products on schedule. As historical and project data is readily available based on which costs and assets can be evaluated and it also helps you to set up complex estimates by specifying the quantity, unit cost, and billing rate for each staff member, material, subcontractor, equipment, miscellaneous item, and overhead expense allocated to the project. It facilitates you with Comprehensive billing and revenue recognition processes provided with multiple accounting methods matching your specific project accounting requirements wherein you can update revenue and cost estimates at any time with a full audit of the changes. Assign cost categories and automatically calculate cost and revenue estimates per cost category, or simply define the cost and revenue estimates for each project category.

Seamless Connectivity

You can expand your project management with a fully integrated Solution, even further with streamlined integration to 300 ERP Inventory Control, Accounts Receivable, Accounts Payable, Purchase Order, and Payroll modules. These applications work seamlessly and synergistically to contribute valuable insights to project costing analysis. Costs and system-calculated burden, overhead, and profits are posted directly to the General Ledger. Save time by defining details to be used when creating billing invoices in Accounts Receivable.

Comprehensive Reports and Inquiries

With Project Costing, you can generate customizable reports based on the most up-to-date business intelligence. Identify problems before they occur by reviewing critical details of each project’s activities at any point in the project cycle. Reports by project and phase can compare and contrast budgeted versus actual resources spent on different projects, enabling you to determine which are profitable and which are not. Additionally, you can pinpoint the most costly phases of your project so improvements can be made to maintain profitability

Secure Business Integrity

Safe, secure, and controlled—protect the sensitive information in your business. 300 ERP assures comprehensive security at variable levels, protecting your highly sensitive project data from unauthorized access or manipulation.

With ERP X3 Fixed Assets module, the information required to manage a company’s fixed assets and associated costs can be maintained effectively. The system is designed in such a way that it calculates depreciation based on commonly used formulas and tables. Implementing ERP X3 gives you the advantage of saving time for more critical operational areas. The Asset Management module is fully interfaced with the other Finance Modules.

Features and Functions

Fixed Asset Records

  • Matching with expense(s) justifying and measuring the fixed asset
  • Dual accounting classification: National standards, GAAP, and IFRS international standards
  • Dual measurement: National standards and IFRS international standards
  • Management of carrying types: Full ownership, capital lease, operating lease, under license, or forecast
  • Origin: References to budget and budgeting processes
  • Purchase date, accounting date, and commissioning date
  • Cost allocations, matching with the CGUs, geographical sectors, and activity
  • Location and bar code registration providing for audit inventories
  • VAT management for entities not liable or partially liable

Display of Depreciation Schedules

  • Accounting
  • Fiscal
  • Tax-regulated
  • Consolidation to GAAP or IFRS standards
  • Subsidy and others

Breakdown for Reallocation or Partial Write-off

  • Through quantity for a fixed asset corresponding to a lot
  • Through expense selection (invoice lines) for a fixed asset grouping a number of expense amounts
  • Through the value of the fixed asset

Transfer

  • Change of cost allocation, sectors, or CGU
  • Change of location

Change of Depreciation Parameters

Method, period, residual value, and others

Revaluation Management

  • Revaluation according to market value or by application of a co-efficient
  • Calculation of revaluation reversal

Write-off of Fixed Assets

  • For different reasons: Sale, scrapping, termination of direct financing lease, or cancellation
  • Intragroup transaction: Partial contribution of asset, merger, demerger

Reporting

  • Depreciation schedule: Financial year or periodic
  • Simulation of a depreciation schedule for a user-definable number of financial years or periods
  • Comparative for two depreciation schedules
  • Capital gains/losses on disposals
  • List of fixed assets: Entries, write-offs, components, and others